[aprssig] LightSquared investors sue GPS industry

[david vanhorn]

Honestly, I think the thought was that they could buy their way out of the
technical issues.
Remember how BPL went.  If you show investors a plausible (to their eyes)
version of "the next big internet thing" then it appears that they will
jump in.



On Sat, Aug 24, 2013 at 12:47 PM, Andrew Rich <vk4tec at tech-software.net>wrote:

> That's such a sad reflection on man kind
>
> What has come of society that such ignorance and stupidity is the norm
>
> Sent from my iPhone
>
> On 25/08/2013, at 1:39 AM, Bob Burns W9BU <w9bu_lists at rlburns.net> wrote:
>
> > Just when you thought the LightSquared situation was over, Harbinger
> Capital Partners, and other investors who backed LightSquared, has filed a
> $1.9 billion (yes, billion with a "b") lawsuit against Deere & Company,
> Garmin International, and Trimble Navigation, plus the U.S. GPS Industry
> Council and the Coalition to Save Our GPS.
> >
> > You can read more about the suit here:
> >
> > http://www.insidegnss.com/node/3664
> >
> > Trimble has already announced that they will "vigorously" defend the
> suit.
> >
> > Harbinger has also sued Dish Network Corp. and its chairman Charlie
> Ergen for $4 billion over allegedly improper purchases of LightSquared
> debt. Ergen reportedly bid over $2 billion last month to buy LightSquared.
> >
> > LightSquared filed for reorganization under Chapter 11 of the U.S.
> Bankruptcy Code in May 2012.
> >
> > Bob...
> >
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